Benchmarks extend losses for second day as finance, auto stocks skid

The BSE Sensex tumbled 420 points to finish below the 61,000-mark on November 10, tracking weakness in auto, finance and energy counters amid widespread selling pressure in global markets.

A depreciating rupee further weighed on sentiment, traders said.

Declining for the second straight session, the 30-share BSE benchmark ended 419.85 points or 0.69% lower at 60,613.70. The index moved between a high of 60,848.73 and a low of 60,425.47.

On similar lines, the broader NSE Nifty fell 128.80 points or 0.71% to end at 18,028.20.

Axis Bank was the biggest laggard among Sensex constituents, shedding 3.54%, followed by Bajaj Finserv, Titan, M&M, Bajaj Finance, IndusInd Bank, PowerGrid and Maruti.

In contrast, HDFC twins, Bharti Airtel, Kotak Mahindra Bank, Dr Reddy’s and HUL were the gainers, climbing up to 1.13%.

The market breadth was negative, with 24 of the 30 Sensex counters closing lower.

“Following sluggish global markets, the cautious mood persisted in the domestic market. Losses on the Dalal Street were led by profit booking in auto and PSU banks, while selling in mid and small caps followed the trend.

Investors around the globe are awaiting US inflation data, which is expected to slow for the fourth month, which can have a positive…